GBP/AUD Technical Analysis
- Rooftop pattern on daily
- The price should move down
- Targets are M H3 and M L3
- 1-2-3 Breakout
- Double top support
- High of the move
- New Support
- Retest of the swing entry zone
- Target
GBP/AUD has formed a rooftop pattern on the daily TF. The pattern has a horizontal or near horizontal bottom with up sloping trend in the first part of the pattern followed by a down-sloping trend in the last part of the pattern. 1-2-3 resembles the roof. The entry zone is around 1.8520. The first target is is M H3 camarilla 1.8375 followed by 1.8250. If the market continues with the trend the final target is M L3 camarilla pivot – 1.8050.
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Cheers and safe trading,
Nenad
